5,677 PulteGroup, Inc. $PHM Shares Sold by Convergence Financial LLC

Convergence Financial LLC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 49.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,889 shares of the construction company’s stock after selling 5,677 shares during the quarter. Convergence Financial LLC’s holdings in PulteGroup were worth $683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its position in PulteGroup by 1.4% during the third quarter. Asset Management One Co. Ltd. now owns 82,617 shares of the construction company’s stock valued at $9,589,000 after acquiring an additional 1,173 shares in the last quarter. Lynch Investment Planning LLC acquired a new stake in PulteGroup in the third quarter valued at approximately $26,000. Patton Albertson Miller Group LLC lifted its stake in PulteGroup by 0.4% in the third quarter. Patton Albertson Miller Group LLC now owns 65,040 shares of the construction company’s stock valued at $7,549,000 after acquiring an additional 233 shares during the last quarter. Peterson Wealth Services grew its position in PulteGroup by 37.3% in the third quarter. Peterson Wealth Services now owns 2,461 shares of the construction company’s stock worth $286,000 after acquiring an additional 668 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in PulteGroup by 20.9% in the third quarter. V Square Quantitative Management LLC now owns 7,341 shares of the construction company’s stock worth $852,000 after acquiring an additional 1,268 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $124.41 on Friday. The business’s 50-day simple moving average is $119.35 and its 200-day simple moving average is $124.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71. PulteGroup, Inc. has a 52 week low of $107.15 and a 52 week high of $144.49. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.98 and a beta of 1.16.

PulteGroup (NYSE:PHM) last posted its earnings results on Thursday, October 22nd. The construction company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.10). PulteGroup had a return on equity of 14.29% and a net margin of 11.24%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $2.96 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities research analysts expect that PulteGroup, Inc. will post 9.51 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, September 15th. PulteGroup’s dividend payout ratio (DPR) is 11.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Morgan Stanley began coverage on shares of PulteGroup in a report on Thursday, October 1st. They set an “equal weight” rating and a $128.00 price target on the stock. Barclays reduced their price objective on shares of PulteGroup from $110.00 to $109.00 and set an “equal weight” rating for the company in a research note on Friday, October 23rd. Evercore reiterated an “outperform” rating on shares of PulteGroup in a report on Friday, September 25th. Finally, Royal Bank Of Canada lowered their target price on shares of PulteGroup from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.24.

PulteGroup Profile

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.